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VAT - Highlights / Catch Notes

Home Highlights March 2024 Year 2024 This

Validity of assessment orders - Allegation that freight not ...

VAT and Sales Tax

March 11, 2024

Validity of assessment orders - Allegation that freight not reported and goods sold with under value - The court finds that the assessing officer's determination of suppressed freight charges lacks a rational basis. The freight charges attributed by the assessing officer are significantly higher than the actual consignment values, indicating flawed reasoning. Additionally, the court notes that the reliance on information gathered from the Internet without specifying its nature raises doubts about the credibility of the assessment orders. - Matter restored back for fresh consideration.

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  1. Waiver of predeposit of duty - Freight charges incurred on behalf of the buyers cannot be included in the assessable value of goods sold on Ex-works basis - AT

  2. Valuation of goods - Inclusion of freight charges - invoices show the freight charges separately - freight charges not to be included in the value - AT

  3. Business Auxiliary services - Commission agent - they were out-rightly purchasing and selling the goods - allegation made by the Revenue is only a bald allegation...

  4. Valuation of imported goods - Halani Star - rejected of declared Cost, Insurance and Freight (CIF) value value - When neither the Chartered Engineer was examined nor the...

  5. Valuation - inclusion of freight and insurance in the assessable value for the manufactured goods delivered at the buyers premises - place of removal not taken as...

  6. Valuation of goods - Determination of assessable value - cost of insurance incurred by the assessee is not to be included despite the fact that the freight is “to pay basis” - AT

  7. Valuation of goods - dharmada charges are includible in the assessable value - transit insurance charges and freight charges are not includible - AT

  8. Constitutional validity of restriction on input tax credit (ITC) when goods are sold below the purchase price - RVAT - validity upheld - HC

  9. Valuation - freight and insurance charges - The allegation that the buyers premises are the place of removal cannot be sustained in view of the observations - AT

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